The Mail Order Pharmacy Market was valued at US$ 48,977 million in 2019 and is projected to reach US$ 166,384.85 million by 2027; it is expected to grow at a CAGR of 16.5% from 2020 to 2027.
Mail-order pharmacy operates over the Internet and sends orders through mail, shipping companies, or online pharmacy web portal. Mail order pharmacy delivers medication at doorstep. These are cheaper and more convenient than a local pharmacy. The adoption of mail order pharmacy services has grown at unprecedent rate in last few years owing to increasing adoption of online services in healthcare sector. In addition, aging population, increasing prevalence of chronic diseases, and non-adherence to prescribed medications are further emphasizing on the adoption of mail order pharmacy worldwide.
Mail-order pharmacy operates over the internet and sends orders through e-mail, shipping companies, or online pharmacy web portal. Mail order pharmacy delivers medication at doorstep. These are cheaper and more convenient than a local pharmacy. The adoption of mail order pharmacy services has grown at unprecedent rate in last few years owing to the increasing adoption of online services in healthcare sector. Additionally, aging population, increasing prevalence of chronic diseases, and non-adherence to prescribed medications are further emphasizing on the adoption of mail order pharmacy worldwide. Moreover, increasing investment in mail order pharmacy start-ups is expected to foster the market growth during the forecast period. However, less adoption in low- and -middle income economies due to less penetration of e-commerce is restricting the market growth.
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Market Insights
Increasing Incidences of Chronic Diseases Drives Mail Order Pharmacy Market Growth
Chronic diseases, such as diabetes, cardiovascular disorders, autoimmune disorders, and various types of cancer, are the leading causes of death worldwide. According to the Centers for Disease Control and Prevention (CDC) in 2019, 6 in 10 people suffered from at least one chronic disease in the US. As per the WHO, cardiovascular diseases (CVDs) are the number 1 cause of death among people owing to the hectic lifestyle, taking an estimated 17.9 million lives each year. Diabetes is one of the life-threatening chronic diseases with no functional cure. Diabetes of all types can further lead to various complications in different parts of the body and can increase the overall risk of premature death. According to the International Diabetes Federation (IDF), in 2019, ~463 million adults were having diabetes, and the number is expected to reach 700 million by 2045 worldwide. Medication adherence in case of chronic diseases can offer positive health outcomes, with a reduction in hospitalizations and costs. However, as per the Journal of Managed Care & Specialty Pharmacy, medication adherence for the treatment of chronic diseases is still poor among the population, with less than 50% of patients taking their medications as prescribed. Also, as per the World Allergy Organization, medication adherence to chronic disease, including asthma is a worldwide problem, with estimated adherence to asthma medications varying between 30–70%. Non-adherence to inhaled corticosteroids is responsible for around 24% asthma exacerbations. Additionally, it is estimated that the cost of respiratory disease nonadherence is US$ 35,000 per patient each year in the US. There have been many attempts to increase medication adherence and improve patient care. For instance, various insurance companies provide financial incentives to make filling prescriptions via mail-order pharmacies that is considered less expensive for patients. Mail order pharmacy service is typically offered for drugs used for chronic conditions such as high cholesterol, asthma, high blood pressure, diabetes, and depression. Through this, the customer gets medicine for 90 days rather than getting prescription refilled every month. Therefore, increasing medication non-adherence, aging population, and convenience over traditional methods are expected to drive the growth of the mail order pharmacy market during the forecast period.
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Mail Order Pharmacy Market – by Drug Type
· Non-prescription Drugs
· Prescription Drugs
Mail Order Pharmacy Market – by Product
· Dermal Care
· Diabetes
· Cardiovascular Medicines
· Blood Pressure
· Asthma
· Cold and Flu
· Painkillers
· Antacids
· Others
Mail Order Pharmacy Market – by Mode of Order
· Online Store
· Pharmacy Apps
Mail Order Pharmacy Market – By Geography
· North America
· Europe
· Asia Pacific (APAC)
· Middle East & Africa (MEA)
· South and Central America (SCAM)
The List of Companies - Mail Order Pharmacy Market
1. Canada Drugs Online
2. WellDyne
3. Walgreens co.
4. eDrugstore.com
5. Zur Rose Group AG
6. CHI Health
7. Optumrx Inc.
8. Express Scripts Holding Company
9. CVS Health
10. PillPack
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